AUD/USD daily chartThe dollar is holding firmer as we start the day and that is putting pressure on other major currencies now. AUD/USD has not enjoyed a good time to start the year, not helped by China woes as well in recent weeks. But in the case of yesterday and...
EUR/USD falls to fresh seven-week lows as dollar keeps firmer post-Fed
EUR/USD daily chartThe pair is now starting to crack under the 1.0800 mark in a firmer manner as we look towards European trading. The next key technical test will be the 100-day moving average (red line), seen at 1.0780 currently.This comes as the dollar is keeping...
US30 Technical Analysis
Yesterday, the US30 sold off into the close as the Fed came out a bit more hawkish than expected. In fact, not only the statement contained a line that hinted to a pushback against the March cut, but also Fed Chair Powell doubled down saying that a March cut was not...
FX option expiries for 1 February 10am New York cut
There aren't any major expiries to take note of for the day. As such, trading sentiment will continue to revolve around the same elements as we got from yesterday. The first of which will be the shift in the Fed rates outlook. The central bank said that a rate cut in...
Eurozone inflation, BOE policy decision the main events on the agenda today
There are quite a few things at play in markets at the moment. For one, the dollar is firmer as the Fed notes that its supposed 'base case scenario' is not for a rate cut in March. EUR/USD is once again testing 1.0800 now ahead of European trading. However, Treasuries...
The central bank spotlight continues with the BOE today
There are plenty of mixed opinions about how the bank rate vote is going to pan out but one thing is for sure. That is the BOE is not going to make any changes to the bank rate today. It will remain at 5.25% as policymakers continue to deliberate their next steps. So,...
What is priced in for the Fed after the FOMC meeting yesterday?
The two big takeaways from the FOMC statement and Powell's press conference were:The Fed will only cut rates when "it has gained greater confidence" that inflation will get to the 2% targetPowell says that "it is likely we don't have enough confidence to cut in...
ForexLive Asia-Pacific FX news wrap: Little movement across major FX rates
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Bank of Japan bought the smallest amount of JGBs in January since June last year
The Bank of Japan said on Thursday it bought 5.95 trillion yen ($40.6 billion) of Japanese government bonds (JGBs) in January.This is the smallest amount its purchased in a month since June last year. The BOJ conducts bond-buying operations regularly to contain sharp...
Xi Jinping urges acceleration of new productive forces
General Secretary of the Communist Party of China (CPC) Central Committee, Xi Jinping has weighed in with some motivational comments to fix China's economy:urged efforts to accelerate the development of "new productive forces" and firmly promote high-quality...
European Central Bank’s Lane and Centeno are speaking on Thursday
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Bank of England Monetary Policy Committee meeting today – preview
Bank of England meets Thursday 01 February 2024:no policy changes are expectedlooking ahead markets have priced in the first cut from the Bank by the June meeting (the 20th), may is a possibility thoughTraders will be assessing the break down of votes on the Monetary...
The US House approved a bill to further child tax credit, extend some business tax credits
High risk warning: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives,...
China Vice Finance Minister says fiscal spending, policy will help expand domestic demand
China Vice Finance Minister2023 tax and fee cuts, rebates totalled 2.2 trillion yuanExpects fiscal revenue to continue to recover in 2024Will maintain certain intensity in fiscal spending in 2024Fiscal policy will help expand domestic demandWill appropriately increase...
China Caixin Manufacturing PMI for January 50.8 (expected 50.6)
The privately-surveyed manufacturing PMI from China for January, Caixin/S&P Global comes in better than expected at 50.8expected 50.6, prior 50.8Key findings highlighted in the report:Production continues to expand modestly, but total sales growth softens New...
PBOC sets USD/ CNY reference rate for today at 7.1049 (vs. estimate at 7.1802)
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CBA on inflation and Reserve Bank of Australia – RBA to revise their inflation forecasts
Analysts at Commonwealth Bank of Australia on yesterday's Australian inflation data and what it means for the Reserve Bank of Australia.The December quarter CPI was below market expectations on both the headline and underlying measures. Importantly for the outlook for...
Japan business lobby head agrees with unions on need for wage hike
Japan business lobby Keidanren chief Tokura: share view with labour unions on need to achieve structural wage hike**Keidanren is a significant organisation in Japan with close links to Japan’s ruling Liberal-Democratic Party. It provides advice to the government on...
Japan data – Jibun Bank Manufacturing PMI (final) for January 2024 48.0 (prev 48.0)
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